The founder of Adamant Capital, Tuur Demeester, compared the current bitcoin market to Amazon stock in 2003. He said that bitcoin is not in the bear market, and it is in a state of “post-ICO-bubble bitcoin bull market.”
Well-known bitcoin investor tweeted his opinion with the graph of Amazon’s stock price from 1997 to 2009. He wrote that this is no crypto bear market but rather a post ICO bubble BTC bull market. He further wrote that the year is 2003, 99% of dotcom IPOs are dead, and just like Amazon then, Btc today is screaming buy.
This is no "crypto bear market" but rather a post ICO bubble bitcoin bull market. The year is 2003, 99% of dotcom IPOs are dead, and just like AMZN then, BTC today is a screaming buy. pic.twitter.com/hGMbiZbN0q
— Tuur Demeester (@TuurDemeester) September 6, 2019
According to Demeester’s theory, the leading cryptocurrency will skyrocket eventually in a similar way to Amazon’s stock in the coming years. Back in 2014, Demeester tweeted a graph that showed bitcoin would touch a million dollar by the end of 2024.
Bitcoin Price Prediction Chart — or: Why Some Predict $1M/Bitcoin pic.twitter.com/FdLluOeNLi
— Tuur Demeester (@TuurDemeester) December 19, 2014
Demeester is not the only one who has predicted a big future for bitcoin. Many in the crypto industry believe bitcoin touching a million dollar is inevitable. Earlier a crypto analyst by using a time-based model predicted that bitcoin would reach $100,000 in 2028.